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ASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group strategy announced in October 2014. Group Managing Director Alison Watkins said the Investor Day would provide further definition to Coca-Cola Amatil’s medium-term plans. “It’s been two years since our last investor briefing, where we outlined our strategy for stronger category leadership, step changes in productivity and in-market execution, and better alignment with The Coca-Cola Company and our other partners,” Ms Watkins said. “These strategic themes remain unchanged and today we provide an overview of our progress against this strategy and provide further confidence in our shareholder value proposition. “This will include the progress we have made to align our interests with our partners, particularly The Coca-Cola Company. “Over the past two years we have stuck to our plans, created real possibilities and realised real progress. Looking forward we know there will be additional growth opportunities and we plan to be positioned well to pursue them. “While the structural changes in our industry will continue, we know what we need to do and there’s a lot to be positive about.” Highlights of the Investor Day include: Indonesia & Papua New Guinea An update on the transformation of the Indonesian business that commenced with the significant change in strategy in 2014 for this market Significant progress towards strengthening our leadership position in the cola category Australian Beverages An update on the reinvigoration of our portfolio across all categories, including the new Coca-Cola brand positioning Progress against the $100M cost optimisation target set in 2014, which will be delivered in FY16 Identification of at least a further $100M in cost optimisation opportunities which will underpin a return to growth Better commercial alignment with The Coca-Cola Company through arrangements on water and the planned introduction of incidence pricing arrangements in 2017 For personal use only

ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

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Page 1: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

ASX Announcement 21 October 2016

COCA-COLA AMATIL 2016 INVESTOR DAY

Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group strategy

announced in October 2014.

Group Managing Director Alison Watkins said the Investor Day would provide further definition to Coca-Cola Amatil’s

medium-term plans.

“It’s been two years since our last investor briefing, where we outlined our strategy for stronger category leadership,

step changes in productivity and in-market execution, and better alignment with The Coca-Cola Company and our

other partners,” Ms Watkins said.

“These strategic themes remain unchanged and today we provide an overview of our progress against this strategy

and provide further confidence in our shareholder value proposition.

“This will include the progress we have made to align our interests with our partners, particularly The Coca-Cola

Company.

“Over the past two years we have stuck to our plans, created real possibilities and realised real progress. Looking

forward we know there will be additional growth opportunities and we plan to be positioned well to pursue them.

“While the structural changes in our industry will continue, we know what we need to do and there’s a lot to be positive

about.”

Highlights of the Investor Day include: Indonesia & Papua New Guinea

• An update on the transformation of the Indonesian business that commenced with the significant change in strategy in 2014 for this market

• Significant progress towards strengthening our leadership position in the cola category

Australian Beverages

• An update on the reinvigoration of our portfolio across all categories, including the new Coca-Cola brand positioning

• Progress against the $100M cost optimisation target set in 2014, which will be delivered in FY16 • Identification of at least a further $100M in cost optimisation opportunities which will underpin a return to

growth • Better commercial alignment with The Coca-Cola Company through arrangements on water and the planned

introduction of incidence pricing arrangements in 2017

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Page 2: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

2

COCA-COLA AMATIL LIMITED ABN 26 004 139 397

New Zealand & Fiji

• An outline of the fundamentals that have enabled the business to achieve solid growth • Rationale for continued growth expectations

Alcohol & Coffee

• Update on our strong portfolio and partners including our expanded relationships with Beam Suntory and Molson Coors

• New developments in Amatil’s owned brands and other category opportunities that are delivering growth SPC

• Progress update on our modernisation program and innovation pipeline A copy of the presentation is attached. The Investor Day can also be accessed live via webcast (https://www.ccamatil.com/investors-and-media/media-articles/presentations)

Company contacts:

Investors & Analysts David Akers Group Head of Investor Relations +61 2 9259 6185 +61 412 944 577 [email protected]

Media Patrick Low General Manager External Communications +61 447 121 838 [email protected]

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Page 3: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

2016 Investor Day

21 October 2016

Sydney

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Page 4: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

CCA advises that these presentation slides and any related materials and cross

referenced information, contain forward looking statements which may be subject

to significant uncertainties outside of CCA’s control.

No representation is made as to the accuracy or reliability of forward looking

statements or the assumptions on which they are based.

Actual future events may vary from these forward looking statements and you are

cautioned not to place reliance on any forward looking statement.

Coca-Cola Amatil 2016 Investor Day | 2

Disclaimer

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Page 5: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

In the event of an emergency:• Move away from danger

• Contact security on 9033 7595 (extension 595)

• Evacuate as directed by our Functions or Venue Supervisor

Assembly Point: Lavender Green Alternate Assembly Point: Bradfield Park

Welcome & Safety Briefing

Coca-Cola Amatil 2016 Investor Day | 3

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Page 6: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Today’s objectives

Coca-Cola Amatil 2016 Investor Day | 4

1. Progress update on our strategy

2. Update on recent developments and new initiatives

3. Access to Group Leadership Team

4. Hands on experience with Australian Beverages and Alcohol & Coffee

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Page 7: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Agenda

Coca-Cola Amatil 2016 Investor Day | 5

Start Minutes Section Presenting

From 9.00am Arrival & Registration

9.30am 10 min Welcome, Safety & Objectives David Akers

9.40am 30 min Group Overview & Strategy Alison Watkins

10.10am 30 min Indonesia & PNG Kadir Gunduz

10.40am 20 min Morning Tea

11.00am 30 min Australian Beverages Barry O’Connell

11.30m 30 min New Zealand & Fiji Chris Litchfield

12.00pm 15 min Alcohol & Coffee Shane Richardson

12.15pm 10 min SPC Alison Watkins

12.25pm 35 min Lunch

1.00pm 15 min Finance Overview Martyn Roberts

1.15pm 15 min Wrap Up and Final Q&A Alison Watkins & GLT

1.30pm 10 min Move to demonstration rooms

1.40pm 55 min Australian Beverages – Digital technology Australian Beverages

2.35pm 55 min Alcohol & Coffee – Portfolio Alcohol & Coffee

3.30pm Casual Refreshments

4.30pm Close

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Group Leadership Team

Coca-Cola Amatil 2016 Investor Day | 6

Alison WatkinsGroup Managing Director

Betty IvanoffGroup General Counsel

Barry O’Connell Managing Director Australian Beverages

Martyn RobertsGroup Chief Financial Officer

Libbi WilsonGroup Human Resources Director

Chris LitchfieldManaging DirectorNew Zealand & Fiji

Kadir GunduzManaging Director Indonesia & PNG

Shane RichardsonManaging DirectorAlcohol & CoffeeF

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Group Overview & Strategy

Alison Watkins | Group Managing Director

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Page 10: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Group Overview & Strategy

Vision and values

Shareholder value proposition

Strategic themes Lead, Execute, Partner

2014 strategic review and progress

Part of a unique global system

2015-2017 Financial targets

Sustainability

Coca-Cola Amatil 2016 Investor Day | 8

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Page 11: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Our vision and our values give us a clear and optimistic picture of success

Coca-Cola Amatil 2016 Investor Day | 9

Our ValuesOur vision

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Page 12: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Our shareholder value proposition is straightforward and compelling

We are focused on generating attractive sustainable returns for shareholders

Coca-Cola Amatil 2016 Investor Day | 10

Coca-Cola franchisee

with leading brands

Route to Market with

scale and reach

Large scale, modern,

low cost infrastructure

Steady cash flow from

core Australia and

New Zealand

franchises

Growth opportunities

including Indonesia

and Alcohol & Coffee

providing upside

Investment

case

EBIT

drivers

Targeting low

single-digit

EBIT growth

Core developed

market franchises

(Australia and NZ)

Targeting

double-digit

EBIT growth

Developing

markets

(Indonesia,

PNG and Fiji)

Targeting

double-digit

EBIT growth

Alcohol & Coffee

and SPC

Revenue growth plans and

continuous cost focus

across the groupMid single-digit

EPS growth

Attractive

dividend yield

(>80% payout

ratio)

Targeting

shareholder

value creation

Strong balance

sheet and ROCE

Growth capex for

Indonesia funded via

TCCC equity injection

Continuous working

capital management

NPAT & ROCE

drivers

Modest capex for

developed markets

Bolt on acquisitions

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Indonesia(3)New Zealand(2)Australia(1)

Approximate market volume composition Approximate market volume composition Approximate market volume composition

Ap

pro

xim

ate

CC

A s

hare

Ap

pro

xim

ate

CC

A s

hare

Ap

pro

xim

ate

CC

A s

hare

Energy

Our investment case is based on being a Coca-Cola franchisee with leading brands across Sparkling and Still Beverages

Coca-Cola Amatil 2016 Investor Day | 11

Cola Flavours Adult

Dairy

Sparkling TeaJuice Dairy SportsCola JuiceFlavours Water

Adult

Sports

1. Sources: Aztec Australian Grocery Weighted and AU Convenience scan. MAT 1H16

2. Sources: Nielsen Total MM, YE 2015.

3. Sources: Source: Nielsen; internal estimates. Excludes water ~60% of the NARTD market. YTD 2016.

Sports

Energy

Water Tea Juice Tea

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Page 14: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Our operations and route-to-market has significant scale and reach and we have large scale, modern and low cost infrastructure

Coca-Cola Amatil 2016 Investor Day | 12

Our footprint across Asia PacificOur operations

Australia New

Zealand

Fiji Indonesia Papua

New

Guinea

Production

facilities

12 5 1 8 2

Production

lines

40 15 4 37 6

Warehouses 15 3 2 8 7

Customers

(approx.)

120,000 25,000 3,000 720,000 10,000

Equipment

(approx.)

185,000 40,000 3,000 330,000 17,000

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Page 15: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

In the 2014 strategic review, our plans reflected three broad Group strategic themes

Lead

Strengthening category

leadership position

• Leading brands in each

major NARTD category

in each market

• Up-weighted levels of innovative

marketing to continually

strengthen brand equity

• Evolving portfolio that adapts to

changing consumer preferences

Execute

Step change in productivity and

in-market execution

• World-class customer

servicing capability

• Route to market that provides

customer diversification and real

competitive advantage

• Effective leverage of our

large-scale, low-cost

manufacturing, sales

and distribution capability

Partner

Better alignment with The Coca-

Cola Company and our other

partners

• Shared vision of success

and aligned objectives

• Joint plans for growing

system profitability

• Balanced share of risk

and rewards

Coca-Cola Amatil 2016 Investor Day | 13

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Page 16: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

We have continued to strengthen our leadership position across the group

Coca-Cola Amatil 2016 Investor Day | 14

AustraliaNew Zealand &

Fiji Indonesia & PNG Alcohol & Coffee

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Page 17: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

We have continued to improve our productivity and in-market execution

Coca-Cola Amatil 2016 Investor Day | 15

AustraliaNew Zealand &

Fiji

• Improved execution

metrics

• Enhanced in-field

sales tools

• 2014 $100M cost

optimisation target to

be delivered in FY16

• Completion of a new

juice and sports

drinks plant

• Continued innovation

in technology

• Increased availability

of core range

Indonesia & PNG

• Transformation of

route to market model

and productivity gains

in manufacturing

(Indonesia)

• Revised pack-pricing

strategy (PNG)

Alcohol & Coffee

• Deepened specialist

capability in spirits,

beer and coffee

• Coffee extended into

grocery

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Page 18: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

We have developed better alignment with The Coca-Cola Company and our other brand partners

Coca-Cola Amatil 2016 Investor Day | 16

• Water arrangements

with TCCC

• System growth plan

with TCCC

• Plans in place to

introduce incidence

pricing in 2017

• Distribution

arrangements with

Monster

• US$500 million equity

injection from TCCC

• Defined growth and

return objectives

• Strong governance

arrangements with

TCCC

• Distribution

arrangements with

Monster

• Strong relationship

with TCCC

AustraliaNew Zealand &

Fiji Indonesia & PNG Alcohol & Coffee

• New 10 year

agreement with

Molson Coors

• 10 year agreement

with Beam Suntory in

Australia

• Extended Beam

Suntory relationship

to New Zealand

PartnerF

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Page 19: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Source: TCCC Presentation February 2016

The Coca-Cola System is a unique model which continues to adapt

Coca-Cola Amatil 2016 Investor Day | 17

Source: TCCC Presentation September 2016 Source: TCCC Presentation September 2016

Superior execution and strong bottling partners

Reshaping the Sparkling Beverages strategy and the potential in Still Beverages

Understanding consumer trends and the one brand strategy – “Taste the Feeling”

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Page 20: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Exciting new advertising with the global “Taste the Feeling” campaign

Coca-Cola Amatil 2016 Investor Day | 18

Video: “Anthem” advertisementVideo: “The right amount”

advertisement

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Page 21: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

We are also developing strong relationships with Monster Energy, Beam Suntory, Molson Coors and other leading brands

Coca-Cola Amatil 2016 Investor Day | 19

Monster Energy Alcohol Partners

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Page 22: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

In 2014, we set clear objectives for our businesses, and are on track to deliver

Coca-Cola Amatil 2016 Investor Day | 20

Stabilise

earnings and

return to growth

Australia

Deliver steady

earnings and

volume growth

New Zealand

Expand our

market to realise

the market’s

potential

Indonesia

Continue to build

our portfolio in

Australia and

New Zealand

Alcohol

Invest to restore

SPC to a

profitable,

modern food

business

SPC

Stabilisation

on track, growth

plan refreshed

On track On track On track

Investment on track,

profitability

challenged

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Page 23: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

We have many opportunities for future improvement and growth

Coca-Cola Amatil 2016 Investor Day | 21

• Continue to rebalance the portfolio

• Create closer alignment with The Coca-Cola Company

• Identify and implement further cost optimisation initiatives

Australia

New Zealand

• Deliver additional growth through incremental revenue and volume initiatives

Fiji

• Continue to increase accessibility of products

New Zealand & Fiji

Indonesia

• Continue implementing the strategy across the country

• Invest for today and tomorrow

PNG

• Continue to increase accessibility of products

Indonesia & PNG

• Continue driving growth within each segment

• Identify and implement initiatives to grow volumes and relevance

Alcohol & Coffee

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Page 24: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

We are focussed on delivering against the financial targets we set for 2015-2017

Dividend

• Continue to target medium term dividend payout ratio of over 80%

Balance Sheet

• Balance Sheet to remain conservative with flexibility to fund future growth opportunities

Coca-Cola Amatil 2016 Investor Day | 22

Group EPS

• Targeting to maintain mid single-digit EPS growth levels

• Level of performance will depend on the success of revenue initiatives in Australia and Indonesian economic factors

Capital Expenditure

• Group capex around $300M pa during this business cycle

• 2016 capex expected to be around $300M

• 2017 capex expected to be closer to $375M which will include additional investment at Richlands in QueenslandF

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Page 25: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Our approach to sustainability will underpin our future performance

Coca-Cola Amatil 2016 Investor Day | 23

We provide a safe, open,

flexible and inclusive

workplace where our

people are energised by

the opportunities they

have.

Our People

We operate responsibly

in all we do to minimise

our impact on the

environment and ensure

we deliver a positive

lasting legacy.

Our Environment

We provide choices and

the information

consumers need to make

their choice.

Wellbeing

We partner with our

communities to deliver a

shared benefit from our

presence.

Our Community

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Page 26: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Continuing to work with The Coca-Cola Company to shape choice

Coca-Cola Amatil 2016 Investor Day | 24

Shape choice InnovatePromote clear

facts

Marketing

responsibly

Lead

engagement

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Page 27: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

The safety of our people is paramount and we are proud of the contribution we make

Coca-Cola Amatil 2016 Investor Day | 25

Safety How we contribute

0

2

4

6

8

10

12

14

16

FY12 FY15

Annual Total Recordable Injury Frequency Rate (TRIFR)

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Page 28: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

We are delivering on our promises and have an eye to the future

Coca-Cola Amatil 2016 Investor Day | 26

Perform Grow

Potential system growth

Potential non-system growth

Lead Execute Partner

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Coca-Cola Amatil 2016 Investor Day | 27

Indonesia &Papua New

GuineaKadir Gunduz | Managing Director Indonesia & PNG

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Indonesia & Papua New Guinea

Indonesia is a developing market with strong growth potential

Operating environment continues to be challenging

Strong product portfolio supports our position to capture growth

Complex supply chain which we are now navigating

Video: Progress update

Accelerate growth to transform the business

Close alignment, greater focus, improved performance

Coca-Cola Amatil 2016 Investor Day | 28

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Indonesia is a developing market with

strong growth potential

Coca-Cola Amatil 2016 Investor Day | 29

Expanding manufacturing footprint

and distribution networkNARTD market(1)

Objective: Expand our market to realise the market’s potential – accelerate to transform

Production

facilities

Production

lines

Brands Warehouses Customers

(approx.)

Employees

(approx.)

8 37 9 8 720,000 11,000

1. Sources: Source: Nielsen; internal estimates. Excludes water

~60% of the NARTD market. YTD 2016.

Approximate market volume composition

SparklingTea

Juice Dairy Sports

Ap

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ate

CC

A s

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Page 32: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Despite economic growth slowing in 2015, market

and demographic fundamentals remain solid

GDP per capita – 13% CAGR since 2000 Disposable income growth – 12% CAGR since 2000

Growing affluent and middle class Favourable age demographic

0.0

10.0

20.0

30.0

40.0

50.0

60.0

2000 2005 2010 2015 2016F 2017F

Ind

on

esia

GD

P p

er

Cap

ita

(ID

R M

)

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

2000 2005 2010 2015 2016F 2017F

Ind

on

esia

Pers

on

al

dis

po

sab

le In

co

me p

er

Cap

ita (

IDR

M)

56%

31%13%

43%

65%

79%

2% 4%8%

2010 2015 2020F

Ho

us

eh

old

Sp

lit

Lower (<US$5,000pa) Middle (US$5,000-$25,000pa) Upper (>US$25,000)

-5.00% -3.00% -1.00% 1.00% 3.00% 5.00%

0-4

5-9

10-14

15-19

20-24

25-29

30-34

35-39

40-44

45-49

50-54

55-59

60-64

65-69

70-74

75+

Ag

e R

ang

e

Male Female

Coca-Cola Amatil 2016 Investor Day | 30

63MFor

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Operational environment continues to be challenging and economic volatility is a factor in a developing market

Coca-Cola Amatil 2016 Investor Day | 31

• The significant growth potential of the market has

attracted many new payers across each of the key

product categories

Competitive landscape

• Economic growth in 2014 and 2015 was lower than

would have been expected

• Starting to see signs of improvement

• Volatility in economic growth expected

Economic growth

Inflation – tracking at approximately 3-4% Rupiah stabilising after 3 years of depreciation

Regulatory risk also has the potential to create uncertainty

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 20166,000

7,000

8,000

9,000

10,000

11,000

12,000

13,000

14,000

15,000

16,000

IDR

/ U

SD

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We have a strong product portfolio that supports our position to capture growth in the NARTD market

Coca-Cola Amatil 2016 Investor Day | 32

Sparkling Beverages Still Beverages

Colas

Flavours

Tea Juice

Dairy Sports Water

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Indonesia has 17,500 islands which makes our supply chain complex

Coca-Cola Amatil 2016 Investor Day | 33

20 days

12 days

10 days

12 days10 days

12 days

9 days

12 days

12 days

12 days

10 days

Indonesia supply chain complexity

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Page 36: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Our transaction with The Coca-Cola Company

established clear growth and return objectives

for the business

Coca-Cola Amatil 2016 Investor Day | 34

Long-term market leadership Economic returns

• Targeting a strong market position (by

volume and value) in sparkling beverages

• Targeting a market leadership position (by

value) in NARTD

• Targeting above market volume growth for

the next 10 years

• ROCE above WACC by 2020

• EBIT margin of 10% by 2023

• Cost growth to be less than inflation

Closer alignment, greater focus, improved performance strong progress against the plan

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And established an effective governance structure,

creating even closer alignment

Coca-Cola Amatil 2016 Investor Day | 35

Governance

Board of Commissioners

• CCA: 3 nominees

• TCCC: 2 nominees

Board of Commissioners

President Director / CEO

Alison WatkinsCCA Group Managing Director

Martyn RobertsCCA Group Chief Financial Officer

Kadir GunduzManaging Director, Indonesia & PNG

David BrowningCCA Head of Strategy

Krishnakumar Thirumalai “KK”TCCC Region Director India, Bangladesh, Sri Lanka and Nepal

Atul Singh(1)

TCCC Chairman Asia Pacific Group

1. Atul Singh is retiring in March 2017.

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Our senior leadership team has significant

system and developing markets experience

Coca-Cola Amatil 2016 Investor Day | 36

Kadir Gunduz Managing Director

Amit SinghalCapability Development Manager

Bruce Waterfield Business Services Director

25+ years system experience

Turkey, Russia, Tanzania,

Cambodia, Laos, Vietnam, Nepal,

Sri Lanka, Middle East, North

Africa, Iran, Indonesia, PNG

7+ years system

experience

India, Indonesia

27+ years system

experience

Australia, Indonesia,

PNG

Deborah NovaHR & IT Director

20+ years system

experience

Indonesia

Gigy PhillipSupply Chain Director

20+ years system

experience

Australia, Indonesia,

PNG

Lucia Karina Public Affairs &

Communications Director

Edi IsdwiartoMarketing Director

Mark Payne Sales Director

1+ years system

experience

Indonesia

16+ years system

experience

Indonesia

36+ years system

experience

Australia, Indonesia

Patrick Pech Research & Development Director

16+ years system

experience

Indonesia, Kenya, Sri

Lanka, Cambodia,

Morocco, Algeria

Simon UnterbergerCorporate Planning Manager

8+ years system

experience

Australia, Indonesia,

South Korea

Thomas PramingFinance Director

5+ years system

experience

Middle East, North

Africa, Indonesia, PNG

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Page 39: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

We are accelerating growth to transform the business

Coca-Cola Amatil 2016 Investor Day | 37

1. Improve product

availability

2. Increase

affordability

3. Build brand

strength

Strategic priorities – what we said we’d do

Strong progress across all strategic priorities and enablers

4. Build channel

relevance

Supported by a number of enablers

Investing in

capacity to sustain

growth

Driving effective

and efficient route

to market execution

Driving cost

competitivenessA more agile and

responsive system

Focus – how we’ve changed our strategy

Indonesian population Indonesian population

Niche

Mass market

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We are pleased with our progress since 2014

Coca-Cola Amatil 2016 Investor Day | 38

Video: “Accelerate to Transform”

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Page 41: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Strategic Priority 1

Improve product availability

Coca-Cola Amatil 2016 Investor Day | 39

The opportunity Our approach

Undertake significant market

insights research – proprietary

knowledge database

Establish third party

warehousing / distribution

network (“CCODs”)

Expand salesforce

Increase productivity and

capability

Progress

1M+ outlets surveyed

Outlet base increased by >120K

outlets in ~21 months

82 CCODs territories will be

established by end 2016

700+ new sales roles

Sales Training Academy

3.41

2.87

0.14

0.37

1.63

0.63

2.73

1.72

0.17

0.63

0.77 1.06 1.61

FMCGOutlets

NARTDOutlets

WaterOutlets

TeaOutlets

SparklingOutlets

JuiceOutlets

Off P

rem

ise O

utlet covera

ge

(m

illio

ns)

Stocks CCA Stocks category Doesn't stock category

Rollout cold drink equipment

Rationalise our network 42 distribution centres will be closed

by end 2016

~111K new coolers rolled out

Continued cooler placement drive

Route-to-market programJava will be completed 2016

Bali & Sumatera commence 2017

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Coca-Cola Amatil 2016 Investor Day | 40

Strategic Priority 2

Increase affordability

Price reset and introduction of new pack sizes is

gaining tractionNew pack sizes, new packaging and new products

Sparkling Beverages affordability

Price Rebase

1.5L

IDR 15,000

IDR 11,000

Price Rebase

1.0L PET

IDR 10,000

IDR 9,000

425ml PET

IDR 5,000

New packaging

250ml PET

IDR 3,000

New packaging

390ml PET

IDR 4,000

Still Beverages affordability

New

packaging

300ml cup

IDR 2,000

New

packaging

350ml PET

IDR 4,000

New

packaging

900ml PET

New

packaging

750ml PET

New Flavour

Minute Maid Pulpy

Apple Crush

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Coca-Cola Amatil 2016 Investor Day | 41

Strategic Priority 3

Build brand strength

Media spend has been increased Category and brand building

Advertising: showcasing consumption occasions

Sparkling – increase relevance and occasions

• Global one brand campaign – “Taste the Feeling”

• Special packs for Ramadan

• Increased weighting of marketing to Sprite

Juice – building a mega brand foundation

• Minute Maid Pulpy: best fruit pulp experience

• Minute Maid Nutriboost: awareness and trail and launch

of multiserve pack

Tea – differentiate offering

• Introduced recruitment packs and flavour options

• New multiserve packaging

2014 2016

Me

dia

Sp

en

d

Sparkling (excl Sprite) Sprite Stills

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Coca-Cola Amatil 2016 Investor Day | 42

Strategic Priority 4

Build channel relevance

Modern Trade

Hypermarkets Supermarkets Minimarkets

Traditional Trade

Pushcarts Provision Wholesalers

Price / pack

architecture

Delivery

frequency

Cooler

availability

Call type &

frequency

Promotional

programs

Product

range

In-store

execution

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Coca-Cola Amatil 2016 Investor Day | 43

Enabler Highlight

Cost competitiveness

Our strategy is supported by implementing a range of productivity and

efficiency programs across the business to improve competitiveness

Headcount

optimisation &

labour productivity

gains

Operating

efficiency

• Added 700+ sales

roles

• Overall net

reduction ~1,800

• Significant labour

productivity gains

Safety & hazard

identification

Logistics

efficiencies

• Injury Frequency

Rate (TRIFR)

improvement

• Reduction in

consumer

complaints

• Reduction in out

of stocks

• System

enhancements

has led to

improved

operating

efficiency

• Logistics function

transforming in

line with the

route-to-market

program

• Significant

reduction in

handling rates

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Coca-Cola Amatil 2016 Investor Day | 44

Enabler Highlight

Capability development

Training Academies Leadership

Our strategy is supported by a strong focus on developing our people and our

leadership capabilities

Sales Technical

Academy

Logistics

Technical

Academy

Supply Chain

Technical

Academy

OHS Technical

Academy

CDE Technical

Academy

Finance & HR

Technical

Academy

Tailored Leadership Programs

Leadership Framework

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Page 47: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Australian Beverages

Barry O’Connell | Managing Director Australian Beverages

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Page 48: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Australian Beverages

Implementing our strategy in three phases

Progress updates on strategic themes

• Lead

• Execute

• Partner

Coca-Cola Amatil 2016 Investor Day | 46

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Page 49: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Strategic

Themes

We are implementing our strategy in three phases

Coca-Cola Amatil 2016 Investor Day | 47

Rebalancing the portfolio

Focus on Sparkling Beverages

Accelerate Still Beverages

Targeting

low single

digit EBIT

growth

Lead

Execute

PartnerBetter alignment with TCCC

Monster Energy agreement

Revenue growth management

Route-to-market

Cost optimisation $100M

Shareholder

Value

Proposition

Phase 1Stabilise earnings

Phase 2Cost optimisation to support continued

rebalancing

Phase 3Return to growth

Overview

Identified at least a further $100M

of cost optimisation opportunities

Refreshed and strengthened

category growth plan

Planning for incidence

pricing from 2017

2015 2016

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Coca-Cola Amatil 2016 Investor Day | 48

Rebalancing our portfolio has begun as category demand shifts from Sparkling to Still Beverages

Lead

Market Volume(1)

12mths to 1H15; vs 12mths to 1H16

CCA Australian Beverages Volume(1)

12mths to 1H15 vs 12mths to 1H16

12 months to H1 2015 12 months to H1 2016

Sparkling Stills

+12.5%

-1.6%

Change last 12 months

12 months to H1 2015 12 months to H1 2016

Sparkling Stills

+20.6%

-0.9%

Change last 12 months

1. Measured channels. Combined Grocery and Convenience scan data (Australian Grocery Weighted and AU Convenience scan)

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Coca-Cola Amatil 2016 Investor Day | 49

With many of the building blocks now in place, we are confident of Coca-Cola’s return to growth

Lead

First step in a

multi-phase

stevia strategy

Shaping

choice

New global

“Taste the

Feeling”

campaign

Rebuilding

brand affinity

Acceleration of

high revenue

packs

Premium

packs

Optimised pack

& portion size

Perfect

portion size

Pipeline of new

flavours for

Coca-Cola

Product

innovation

New look under

one integrated

brand

One Brand

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Coca-Cola Amatil 2016 Investor Day | 50

Meanwhile, we are leading the way to re-invent the flavoured sparkling category

Lead

Sustained

advertising

support

Kilojoule

reduction

Product

innovation

Brand

innovation

TCCC

Flavoured

sparkling

Adult

sparkling

Naturally lower sugar,

soft drink organic juice

New sophisticated soft drink

tailored to the adult palette

Re-igniting key

segments

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Coca-Cola Amatil 2016 Investor Day | 51

We are changing the way consumers view the water and enhanced hydration categories

Lead

Leading functional

benefits supported

by asset based

marketing

Sports functional

efficacy

Breaking the mould

of typical water

advertising to make

Mount Franklin the

Nation’s own

The Nation’s

HydrationThe “non-boring”

water

Driving category

value growth by

expanding the

enhanced water

segment

New generation

“Smartwater”

Accelerating

growth (~60%

YTD) through

availability and new

flavours

Capturing

coconut water

Availability, flavour

expansion and new

advertising to

maximise sparkling

opportunity

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Coca-Cola Amatil 2016 Investor Day | 52

And challenging the traditional approach to under-exploited Still Beverages categories

Lead

Energy

Iced Tea

Value

Added

Dairy

A new energy partner with a huge

pipeline of innovation and

marketing assets

Still the only brand with potential for

national distribution - now with a

solid innovation pipeline for 2017

and beyond

Making the category more

accessible through lower sugar

and non-traditional flavours

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Our growth in Still Beverages is orientated towards higher net sales revenue per case categories

Coca-Cola Amatil 2016 Investor Day | 53

Market Volume 2014 – 2016

Shifting category demand

Coca-Cola Amatil 1H16

Average Revenue Per Case

Lead

Market volume 2 year compound annual growth rate(1)

-5%

0%

5%

10%

15%

20%

25%

Indexed to Sparkling Beverages(2)

1. Market data. Combined Grocery and Convenience scan data (Australian Grocery Weighted and AU Convenience scan).

2. Coca-Cola Amatil data, based on average revenue per case for the 6 months to 30 June 2016, excluding Neverfail.

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We are implementing our strategy in three phases

Coca-Cola Amatil 2016 Investor Day | 54

Overview

Strategic

Themes

Rebalancing the portfolio

Focus on Sparkling Beverages

Accelerate Still Beverages

Targeting

low single

digit EBIT

growth

Lead

Execute

PartnerBetter alignment with TCCC

Monster Energy agreement

Revenue growth management

Route-to-market

Cost optimisation $100M

Shareholder

Value

Proposition

Phase 1Stabilise earnings

Phase 2Cost optimisation to support continued

rebalancing

Phase 3Return to growth

Identified at least a further $100M

of cost optimisation opportunities

Refreshed and strengthened

category growth plan

Planning for incidence

pricing from 2017

2015 2016

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We will need to continue adapting our route-to-market approach as channel mix continues to evolve

Coca-Cola Amatil 2016 Investor Day | 55

Execute

Grocery outlets National quick

serve restaurant

outlets

HORECA outlets Independent

takeaway outlets

Small independent

outlets

Independent

convenience outlets

YTD Outlet Count % Change vs PY

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We are driving systemised, structural improvements to secure sustained revenue growth

Coca-Cola Amatil 2016 Investor Day | 56

Execute

Promotional Optimisation Portfolio-based Contracts

• Delivering compelling portfolio

offers to customers

• Incentivising ranging and

activation

Pack Architecture

• Accelerated glass, mini cans and

cold drink packs

• Three pack single serve

architecture with optimised size

and price partitions

• Utilising data and analytics led

promotional design

optimisation

+2.2% improvement in volume return on

promotional investment

16.6%pts better net contribution performance

contracted vs promotional customers

+3.3%pts better net contribution where 3 pack

available*

* vs outlets where 3 pack is not available (since 250ml PET launch)* YTD September 2016* YTD September 2016 vs YTD September 15 (applicable channels)

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Powered by digital sales tools, we are dramatically improving selling power and customer experience

Coca-Cola Amatil 2016 Investor Day | 57

Automated selling tools

Real-time outlet

specific business

performance

tracking,

executional

metrics, outlet

administration and

order status

Always on, omni-channel

customer/CCA interface

• World class online CCA

“shop” for existing and new

customers, with a tailored

experience, available on all

devices 24/7

• Complemented by other

digital channels (customer

email, mobile); and

• Inbound/outbound call

centre (linked to the same

selling tools as the rep in the

field); and

• Face to face selling and

business development.

Execute

A sales force freed to

focus solely on selling

• Move to flexible

merchandising model

• Improved call time focused

on business development

• Additional resource focused

on new business

• More efficient approach for

our growing base of

national contracted

customers

3D interactive

channel specific

“pictures of

success” linked to

current

promo/portfolio/

pricing activation

Real time

automated

measurement of

ranging and space

allocation

+ +

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~20% more time in outlet

focused on business

development driving

improved ranging and

activation

Coca-Cola Amatil 2016 Investor Day | 58

Winning PrecinctsNew Business

Our new sales model is yielding positive initial results ahead of an accelerated roll-out

Execute

Digital

MigrationBusiness Development

Winning new business

including large, high

value operational

accounts

1,265new high value Gold &

Silver customers YTD

+5.8%pt improvement in RED score

in last 6 months

Online orders reached

~46% by September. On

track to surpass 50% by

year end

Concentrated focus in

key precincts to win

every outlet across

range, price, activation

+18.2%ptimprovement vs prior year

+4.2%pt better RED score versus non

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Lead Performance Indicators

Coca-Cola Amatil 2016 Investor Day | 59

Reinvested in brand development and price to support our

leadership position and to enhance our capabilities

Execute

Our $100M cost optimisation target set in 2014 will be delivered in FY16

6.5pptsimprovement in TRIFR

year to date

14.3% reduction in consumer

complaints year to date

3.3ppts improvement in

efficiency year to date

0.5pptsimprovement in

DIFOTAI year to date

• Savings were as anticipated:

• ~1/3 supply chain optimisation (eg Bayswater closure)

• ~1/3 procurement optimisation (eg packaging)

• ~1/3 support services optimisation

• Approximately 50:50 between cost of goods sold and indirects

$100M cost optimisation target set in 2014

will be delivered in FY16

Safety Logistics

Consumers Manufacturing

Lead performance indicators

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We have identified at least a further $100M of cost optimisation opportunities to be delivered over the next three years

Coca-Cola Amatil 2016 Investor Day | 60

Transformation Office

Execute

• Transformation Office

established in early

2016

• Over 300 initiatives

identified across the

business

• Early stages of

implementing a

number of initiatives

“Supply chain of the Future”

• Richlands automation

• Business Excellence program

• Grid optimisation

Outsourcing merchandising

and salesforce restructure

Procurement optimisation

Support services optimisation

Focus Areas

• Expecting ~$50M of

restructuring costs and

$75M of capex in 2017

• Targeting to offset

restructuring costs with

potential sale and

leaseback

arrangements

Funding &

ImplicationsReinvestment

• “Salesforce of the Future”

• Continued rebalancing of

the portfolio through

innovation

• Additional marketing

• Price investment

This will underpin our return to revenue growth to support Australian Beverages’

delivering its target of low single digit EBIT growth

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Significant cost optimisation opportunities in

“Supply Chain of the Future”

Coca-Cola Amatil 2016 Investor Day | 61

Richlands

New Automated Warehouse

~$75M investment

• Currently leasing offsite

warehouse

• Capex to build new fully

automated warehouse on the

site of existing manufacturing

plant

Targeting

• Reduction in handling costs

• Reduction in warehouse

operating costs

• Reduction in truck movements

Execute

Business Excellence program

• National approach to supply

chain

• Standardised routines

• Optimised systems and

operating procedures

• Continued focus on safety,

quality and efficiency

• Investing in technology

platforms to track and measure

our lean journey to world class

Commenced assessment of:

• Production sourcing

optimisation

• Fit for purpose manufacturing

footprint

• Enhanced capability to support

portfolio rebalancing

• Logistics optimisation

Grid Optimisation review

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We are implementing our strategy in three phases

Coca-Cola Amatil 2016 Investor Day | 62

Overview

Strategic

Themes

Rebalancing the portfolio

Focus on Sparkling Beverages

Accelerate Still Beverages

Targeting

low single

digit EBIT

growth

Lead

Execute

PartnerBetter alignment with TCCC

Monster Energy agreement

Revenue growth management

Route-to-market

Cost optimisation $100M

Shareholder

Value

Proposition

Phase 1Stabilise earnings

Phase 2Cost optimisation to support continued

rebalancing

Phase 3Return to growth

Identified at least a further $100M

of cost optimisation opportunities

Refreshed and strengthened

category growth plan

Planning for incidence

pricing from 2017

2015 2016

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Coca-Cola Amatil 2016 Investor Day | 63

Partner

We are better aligned with The Coca-Cola Company and have established a partnership with Monster Energy

Water arrangements

• In place from 2016

• Significantly improved alignment in

the category

Incidence pricing

• Plans in place to introduce in 2017

The Coca-Cola Company

Agreement from May 2016

Monster Energy

40%increase in outlet penetration

in only four months

Penetration

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Incidence pricing will align the

system to grow revenue

Coca-Cola Amatil 2016 Investor Day | 64

CCA

TCCC

Benefits

• Better economic alignment

between pack sizes

• Revenue and volume

growth focus rather than

revenue or volume growth

only

• System can be more

responsive to the market

• Improved decision making

• Most developed markets

already operate on a

similar arrangement

Concentrate pricing

based on price per litre

Concentrate pricing based on

a percentage of revenue

Planning for incidence pricing to be introduced in 2017

Partner

Illustrative Illustrative

For

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We are engaging with all stakeholders in

preparation for the implementation of container

deposit schemes

Coca-Cola Amatil 2016 Investor Day | 65

Container deposit schemes

ACT

Targeting

implementation

2018

SA

Introduced 1977

NT

Introduced 2012QLD

Targeting

implementation

2018

NSW

Targeting

implementation

July 2017

WA

Targeting

implementation

2018

Potential pricing impact(1)

Execute

1. Illustrative example using 10 cent deposit and 5 cent handling and

administration fee. Assumes all fees passed on to the consumer.

Relative price increase on

lower value packs is greater(1)

0%

10%

20%

30%

40%

50%

60%

70%

$0.25 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 $5.00

Bottle price

Potential price

increase (%)

Illustrative

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We are implementing our strategy in three phases

Coca-Cola Amatil 2016 Investor Day | 66

Overview

Strategic

Themes

Rebalancing the portfolio

Focus on Sparkling Beverages

Accelerate Still Beverages

Targeting

low single

digit EBIT

growth

Lead

Execute

PartnerBetter alignment with TCCC

Monster Energy agreement

Revenue growth management

Route-to-market

Cost optimisation $100M

Shareholder

Value

Proposition

Phase 1Stabilise earnings

Phase 2Cost optimisation to support continued

rebalancing

Phase 3Return to growth

Identified at least a further $100M

of cost optimisation opportunities

Refreshed and strengthened

category growth plan

Planning for incidence

pricing from 2017

2015 2016

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Coca-Cola Amatil 2016 Investor Day | 67

New Zealand & Fiji

Chris Litchfield | Managing Director New Zealand & Fiji

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We have articulated a clear vision for the business

which drives performance and engagement

Coca-Cola Amatil 2016 Investor Day | 68

Our vision is set and our progress is strong

FijiNew Zealand

DELIVERING

TODAY

BUILDING

TOMORROW

LEAD

E

X

E

C

U

T

E

PARTNER

Targeting low single

digit EBIT growth

Targeting double digit

EBIT growth

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We are delivering on our objective of

volume based growth

Coca-Cola Amatil 2016 Investor Day | 69

Build for growthRecession &

Earthquake

Price and cost out led results Volume based growth plans

Strategic objectives reflected in distinct phases

Recovery Phase

2009-2012 2013-2014 2015 1H16

Volume Net Sales Revenue

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We continue to have strong positions across Sparkling and Still Beverages with significant growth potential

Coca-Cola Amatil 2016 Investor Day | 70

NARTD market(1) Expanding profit pools within beverage

Lead

Approximate market volume composition

Ap

pro

xim

ate

CC

A s

hare

EnergyCola JuiceFlavours Water

Adult

Sports Tea

1. Sources: Nielsen Total MM, YE 2015.For

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We are pleased with progress against

our strategy since 2014

Coca-Cola Amatil 2016 Investor Day | 71

Grow Sparkling Beverages

TransactionsAccelerate Still Beverages Route to market

Safe & Engaged People, Proudly Inclusive, Fast, Flexible & Efficient

Transactions growing

faster than Volume

Almost Double Digit

Volume growth

Improved Execution

Metrics (RED)

OverviewF

or p

erso

nal u

se o

nly

Page 74: ASX AnnouncementASX Announcement 21 October 2016 COCA-COLA AMATIL 2016 INVESTOR DAY Coca-Cola Amatil will today host a briefing with Investors to provide a progress update on the Group

Coca-Cola Amatil 2016 Investor Day | 72

First step in a

multi-phase

stevia strategy

Shaping

choice

New global

“Taste the

Feeling”

campaign

Rebuilding

brand affinity

Acceleration of

high revenue

packs

Premium

packs

Optimised pack

& portion size

Perfect

portion size

Pipeline of new

flavours for

Coca-Cola

Product

innovation

New look under

one integrated

brand

One Brand

Continue to drive Sparkling Beverages transaction growth, innovating to shape choice across the portfolio in pack and product

LeadF

or p

erso

nal u

se o

nly

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Continue accelerating Still Beverage volumes via investment in product and packaging, portfolio expansion and brand equity

Coca-Cola Amatil 2016 Investor Day | 73

Still Beverages

LeadF

or p

erso

nal u

se o

nly

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MOST organic juice brand delivering relevance and

growth in the café and restaurant channel

Coca-Cola Amatil 2016 Investor Day | 74

MOST Juice Snapshot

• Targeting café / restaurant outlets

• Addresses Retailer desires of

Organic and Provenance

• Penetration of Café Channel up over

30% post launch

• Portfolio approach securing cooler

placement and range expansion

Lead

ExecuteF

or p

erso

nal u

se o

nly

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We have made a significant investment in a

new juice and sports manufacturing facility

Coca-Cola Amatil 2016 Investor Day | 75

Lead

Execute

Video: Keri Snapshot

• Plant consolidation from

four sites to one

• Improved operational

efficiency & increased

productivity

• Capacity – 800,000 per day

• Capability – Powerade fast

flow bottle and improved

juice quality

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We are investing in service and capability to expand

our retailer partners across multiple channels

Coca-Cola Amatil 2016 Investor Day | 76

Execute

Customer promise

Service model

myCCA

Marketing assets

Field capability

STORES

7% increase

in Customers

Customer MIX

Convenience>

50% mix

DOORS

8% increase

in coolers

CUSTOMER

NPS score

33 to 62**NPS YTD June

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We have a strongly aligned relationship with

The Coca-Cola Company and our other partners

Coca-Cola Amatil 2016 Investor Day | 77

Partner

Strong relationship and

alignment

The Coca-Cola Company

Distribution agreement since

May 2016

Monster Energy

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Coca-Cola Amatil 2016 Investor Day | 78

New Zealand

Our vision is set and our progress is strong

Fiji

Our Journey continues…

DELIVERING

TODAY

BUILDING

TOMORROW

LEAD

E

X

E

C

U

T

E

PARTNER

Targeting low single

digit EBIT growth

Targeting double digit

EBIT growth

For

per

sona

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y

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79

Alcohol & Coffee

Shane Richardson | Managing Director Alcohol & Coffee

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Alcohol & Coffee

Coca-Cola Amatil 2016 Investor Day | 80

Developing strong relationships with partners and owned businesses

Developing a quality portfolio across alcohol and coffee

Significant progress since 2014

Category overviews

• Spirits & RTDs

• Paradise Beverages

• Beer

• Cider & Bitters

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Developing strong relationships with

exceptional partners and owned businesses

Coca-Cola Amatil 2016 Investor Day | 81

Partner

Bottled spirits and

ready-to-drink spirit

based beverages

Spirits & RTDs

International beers, craft

beers, cider based

beverages

Beer & Cider

Coffee beans and

capsules

CoffeeParadise

Beverages Fiji

Domestic beers and

spirits with export

potential

For

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Developing a quality portfolio across

alcohol and coffee categories

Coca-Cola Amatil 2016 Investor Day | 82

Lead

Spirits & RTDsBeer, Cider &

BittersCoffee

Paradise

Beverages Fiji

Range complemented by strong Sparkling and Still Beverage portfolioFor

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We are pleased with our progress since 2014

Coca-Cola Amatil 2016 Investor Day | 83

Overview

• Innovate to grow

Spirits & RTDs

• Brand lead growth

strategy delivering

strong results

Coffee

• Continue to re-

establish presence

• Aggressively grow in

targeted segments

Beer, Cider &

Bitters

• Domestic innovation

driving value growth

• Strong export market

opportunity

Paradise

Beverages Fiji

Expanded and developed portfolio across Australia, New Zealand and Fiji

• New long term

partnership agreement

with Beam Suntory

• Expanded spirit range

with significant

innovation in RTD

• Unrivalled yet under

developed premium

whiskey range

• Added Miller Genuine

Draft and Miller Chill

• Australian Beer

Company brands in

market within Asia

• Leading premium cider

portfolio

• Exports to 15 countries

across beer and rum

• International Rum

portfolio now in place

through BATI and

RATU

• Significant recognition

for Rum Co of Fiji in

industry awards

• Refreshed the

Grinders Brand

including the

reopening of our iconic

coffee shop in

Melbourne

• Extended the range to

capsules

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Spirits & RTDs – continue to innovate and grow

Coca-Cola Amatil 2016 Investor Day | 84

Lead

• Maintain and

enhance Jim Beam’s

#1 position in spirits

& RTDs

• Recent innovation in

refreshment and

premium trends

Jim Beam

• Accelerate the

growth of our

premium portfolio

• Exciting growth

opportunity in high

vale categories

Premium Spirits

• Increase penetration

of core spirits

• Recent global brand

redesign – first

change to the Jim

Beam franchise in 50

years

Core Brand

Refresh

• Continue to

accelerate the growth

of Canadian Club

• NPD launches in

2016 continue

annualised double

digit growth

Canadian Club

NPD to grow the

Bourbon drinking

occasion

Fastest growing

spirit and RTD now

#4 in Australia

#1 spirit RTD

trademark

Strongest Japanese

whiskey portfolio

• Recently added to

the portfolio

• Significant value

creation through high

value, high demand

category

Japanese

Whiskey

Most diverse

whiskey portfolio

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Jim Beam Citrus HighballBringing innovation to the category

Coca-Cola Amatil 2016 Investor Day | 85

Lead

Partner

Video: Jim Beam Citrus Highball

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Paradise Beverages Fiji – maintain strong local

market position and pursue export opportunities

Coca-Cola Amatil 2016 Investor Day | 86

Lead

• 2015- Strongest recorded sales year in

the Brewery’s history

• Brand seeding in Export markets -

Australia, Asia, America Samoa &

West Coast USA

Beer

• Full spirits portfolio and innovation in

local market

• Very strong early signs of Export

opportunity with globally awarded Rum

portfolio

Rum

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Beer – continue to build scale in premium

international beer and craft beer segments

Coca-Cola Amatil 2016 Investor Day | 87

Lead

Coors

• Emerging International

Premium brand with Millennial

consumers

• Consecutive double digit growth

since launch

Miller Genuine Draft & Miller

Chill

• #4 largest premium

International Beer in Australia

Premium International

Beer

Blue Moon

• Worlds largest craft beer

• #2 craft beer in the US

• Recent innovation with

seasonal releases

Samuel Adams

• #1 craft beer in the US

International Beer in Australia

International Craft

Yenda

• Range of local craft beers

Alehouse

• Available in draught

Limited Releases

• Yenda Twist & Stoup

• Patchwork IPL

• Beyond the Black Stump

Local Craft

Further Partner Brands

• Access to current partners

broader portfolio of International

Premium and International Craft

brands

Available to CCA

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Exciting new agreement with Molson Coorscomplements current beer and cider portfolio

Coca-Cola Amatil 2016 Investor Day | 88

Partner

• New Agreement from October 2016

• Includes the addition of Miller Genuine Draft

and Miller Chill to the portfolio

• Miller brand is the fourth biggest Premium

International beer in Australia

New Agreement

• Addition of the Miller brand strengthens

CCA’s position in the large and Growing

Premium International Segment

• Wider CCA Beer and Cider portfolio well

positioned in growth segments

• Craft, Craft Int., Low Carb, Cider,

Premium Import

CCA Portfolio well positioned in Beer

& Cider Growth Segments

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Molson CoorsCoors – Born in the Rockies

Coca-Cola Amatil 2016 Investor Day | 89

Lead

Partner

Video: Coors – Born in the Rockies

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Cider and Bitters – continue to innovate in

these segments to drive further growth

Coca-Cola Amatil 2016 Investor Day | 90

Lead

• Strong innovation pipeline with

flavours

Premium Cider

• Continue to increase penetration

• Additional innovation

opportunities

Mainstream Cider

• Recently added additional

flavours

• Further innovation potential

Bitters

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Coffee – strong brand-led growth plan

under Grinders Coffee Roasters

Coca-Cola Amatil 2016 Investor Day | 91

Lead

• Clarity and communication of

right brand for the right outlet

Brand

• Continue growth in traditional

roast & ground

• Coffee capsules in grocery with

further portfolio expansion

opportunities

Products

• Innovation opportunities

• Training academy

• Equipment supplier with coffee

“pull through”

Extending reach

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Coca-Cola Amatil 2016 Investor Day | 92

SPCAlison Watkins | Group Managing Director

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SPC update

Coca-Cola Amatil 2016 Investor Day | 93

Significant progress

on investment

• New capacity

• Modern snack line

• State of the art tomato processing

• Strengthened operations capability

• Outsourced merchandising

• Sale of surplus site at Mooroopna

• Divestment of non-core UK business

• Building export focus

Example of innovation

in functional food

Investment on track, profitability challenged

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Coca-Cola Amatil 2016 Investor Day | 94

Finance Overview

Martyn Roberts | Group Chief Financial Officer

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Finance Overview

We are applying financial discipline to generate attractive sustainable returns for shareholders

Coca-Cola franchisee

with leading brands

Route to Market with

scale and reach

Large scale, modern,

low cost infrastructure

Steady cash flow from

core Australia and

New Zealand

franchises

Growth opportunities

including Indonesia

and Alcohol & Coffee

providing upside

Investment

case

EBIT

drivers

Targeting low

single-digit

EBIT growth

Core developed

market franchises

(Australia and NZ)

Targeting

double-digit

EBIT growth

Developing

markets

(Indonesia,

PNG and Fiji)

Targeting

double-digit

EBIT growth

Alcohol & Coffee

and SPC

Coca-Cola Amatil 2016 Investor Day | 95

Revenue growth plans and

continuous cost focus

across the groupMid single-digit

EPS growth

Attractive

dividend yield

(>80% payout

ratio)

Targeting

shareholder

value creation

Strong balance

sheet and ROCE

Growth capex for

Indonesia funded via

TCCC equity injection

Continuous working

capital management

NPAT & ROCE

drivers

Modest capex for

developed markets

Bolt on acquisitions

1

2

3

4

5

6

7For

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1. Modest capex for developed markets

Coca-Cola Amatil 2016 Investor Day | 96

• Capex for developed markets is modest

and below depreciation, subject to

Australian supply chain needs.

• Main requirements are for cold drink

equipment and IT investment to support

strategy

• New robust capex approval process

• Redesigned business case format

focussing on financial metrics and

returns

• New return hurdle rates in place

tailored for country risk, business

risk and type of investment (eg

growth / stay in business / safety)

• Post implementation review program

initiated to increase accountability

• FY17 Group capex expected to be

closer to $375M rather than the $300M

identified at 1H16 due to the Richlands

project

Australia and New Zealand capital expenditure (AU$M) and

capital expenditure to depreciation (x)

$M Depreciation (x)

266

175

126 98 ~100

40

14

15

25 ~25

1.8

1.0

0.8

0.70.7

-

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

2.00

-

50

100

150

200

250

300

350

FY12 FY13 FY14 FY15 FY16F

Australia New Zealand Capex Multiple

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2. Growth capex for Indonesia funded via TCCC equity injection

Coca-Cola Amatil 2016 Investor Day | 97

• April 2015 TCCC invested USD500 million

for a 29.4% interest in the Indonesian

business

• Funds ring-fenced for growth capex in

Indonesia

• Identical capex process and rigour for capex

in Indonesia as for developed markets

• Capex is focussed on:

• Cold drink equipment (circa 40,000

pieces of equipment per annum) to

support route to market strategy

• Production plants and lines consistent

with capacity requirements from

increasing demand

• Distribution centres

• Disciplined use of capital as required

• Current forecast is that we have sufficient

funds for capital investment through to

around 2020 depending on volume growth

0

100

200

300

400

500

600

FY15 FY16 FY17 FY18 FY19 ~FY20

~US$500M

~US$50M

Indonesia cumulative capital

expenditure from April 2015 (US$M)

Illustrative

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3. Continuous working capital management

Coca-Cola Amatil 2016 Investor Day | 98

• Renewed focus on sustainable

working capital improvements across

the group

• Core developed markets stabilised

with a view to improve (Australia &

New Zealand)

• Committed to supporting growth

markets such as Indonesia and

Alcohol & Coffee

• Particular focus on inventory in the

short term

Working capital core developed markets

and developing & growth markets ($M)

-

100

200

300

400

500

600

FY12 FY13 FY14 FY15

Core Developed Markets (Aus/NZ) Developing/Growth Markets

$M

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4. Bolt on acquisitions

Coca-Cola Amatil 2016 Investor Day | 99

History of bolt-on acquisitions, divestments and significant joint ventures

Sufficient balance sheet capacity to pursue bolt on acquisitions

Most likely to be in Alcohol & Coffee

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5. Targeting mid single digit earnings per share growth

Coca-Cola Amatil 2016 Investor Day | 100

• Mid single digit earnings per share (EPS)

growth already being achieved, albeit

through lower finance costs as a result of

TCCC equity injection in Indonesia

• Aspiration is for mid single digit EPS to

be largely EBIT driven

• Risks to delivery in terms of success of

revenue initiatives in Australia and

economic conditions in Indonesia remain

Earnings per share and EBIT(1)

growth FY15 and 1H16 (%)

1.4%

3.2%

4.7%

7.8%

FY15 1H16

EBIT % EPS %

1. Before 2014 significant item.

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6. Continuing attractive dividend yield with above 80% payout ratio

Coca-Cola Amatil 2016 Investor Day | 101

• Modest capex in developed

markets and self funded growth

capex in Indonesia combined with

continuous working capital

management allows us to continue

to target a dividend payout ratio

above 80% during the current

business cycle

Operating cash flow Net investing activities Dividends paid TCCC equity injection

Use of operating cash flow and dividend payout ratio

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

-

200

400

600

800

1,000

1,200

1,400

FY12 FY13 FY14 FY15 1H16

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

-

200

400

600

800

1,000

1,200

1,400

FY12 FY13 FY14 FY15 1H16FY12 FY13 FY14 FY15 1H16

Payout ratio$M

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7. Strong balance sheet

Coca-Cola Amatil 2016 Investor Day | 102

Balanced debt maturities profile Increasing certainty of finance cost profile

Diverse and cost effective funding Credit ratings and metrics

• S&P BBB+ (stable)

0

200

400

600

800

1,000

2016 2017 2018 2019 2020 2021+

Cash / undrawn facilities Committed facilities

7%23%17%0% 26% 27%

Weighted average maturity of group

committed facilities is 4.3 years for $2.2B

Bank Debt

AUD domestic bond

NZD domestic bond

USPP

Euro Medium TermNote Market

0%

20%

40%

60%

80%

100%

2016 2017 2018 2019 2020 2021+

Fixed Floating

Weighted average fixed rate maturity of 4.1 years

• Moody’s A3 (stable)

Net interest coverDebt: EBITDA

1.61.8

2.0

1.2

0.0

0.5

1.0

1.5

2.0

2.5

FY12 FY13 FY14 FY15

Debt: EBITDA

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7. Focus on return on capital employed

Coca-Cola Amatil 2016 Investor Day | 103

23.923.2

18.5 18.6 18.6

FY12 FY13 FY14 FY15 1H16

• Our business performance and finance

discipline has stabilised return on

capital employed and should lead to

improvements in the future

1. Return on capital employed is calculated as EBIT before significant items, divided by the average of the assets

and liabilities – operating and investing (net assets of the Group excluding net debt) at the beginning and at

the end of the twelve-month period ended as at the balance date.

Return on capital employed(1) (%)

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Other finance updates

Coca-Cola Amatil 2016 Investor Day | 104

Creation of a Property Division

• Property Division will be set up from 1 January 2017

• The Division will hold Land & Buildings assets for all

owned production and warehouse sites in Australia

and New Zealand

• Businesses will be charged rent in line with market

rates

• The Division will be reported within the Corporate,

Food & Services Segment

• 2016 results will be restated resulting in minimal

impact on year on year comparisons

Commodities / COGS – Australian Beverages

• 2015 and 2016 have seen a flat COGS environment with

reductions in commodities being offset by a weakening AUD

• 2017 will have a negative impact from USD forward contracts

which have been taken out in 2016, without such a

commensurate reduction in commodity prices

• Sugar, in particular, has risen substantially in H2, as have

electricity prices

• As a result, COGS for Australian Beverages are forecast to

increase by ~2-3% in 2017

• We expect to recover these increases through our regular

pricing processes

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Coca-Cola Amatil 2016 Investor Day | 105

Wrap UpQ&A

Alison Watkins | Group Managing Director

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Wrap up

We are focused on generating attractive sustainable returns for shareholders

Coca-Cola Amatil 2016 Investor Day | 106

Coca-Cola franchisee

with leading brands

Route to Market with

scale and reach

Large scale, modern,

low cost infrastructure

Steady cash flow from

core Australia and

New Zealand

franchises

Growth opportunities

including Indonesia

and Alcohol & Coffee

providing upside

Investment

case

EBIT

drivers

Targeting low

single-digit

EBIT growth

Core developed

market franchises

(Australia and NZ)

Targeting

double-digit

EBIT growth

Developing

markets

(Indonesia,

PNG and Fiji)

Targeting

double-digit

EBIT growth

Alcohol & Coffee

and SPC

Revenue growth plans and

continuous cost focus

across the groupMid single-digit

EPS growth

Attractive

dividend yield

(>80% payout

ratio)

Targeting

shareholder

value creation

Strong balance

sheet and ROCE

Growth capex for

Indonesia funded via

TCCC equity injection

Continuous working

capital management

NPAT & ROCE

drivers

Modest capex for

developed markets

Bolt on acquisitions

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Coca-Cola Amatil 2016 Investor Day | 107

Demonstrations

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Demonstrations

Coca-Cola Amatil 2016 Investor Day | 108

• Digital technology demonstrations

• SAM

• PICOS

• myCCA

Australian Beverages

• Portfolio description and sampling

• Spirits

• Paradise Beverages – Rum

• International Beer

• Craft Beer

• Coffee

Alcohol & Coffee

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Coca-Cola Amatil 2016 Investor Day | 109

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